Mon Nov 18 00:28:51 UTC 2024: ## Modi’s Historic Nigeria Visit Aims to Boost Bilateral Trade
**Abuja, Nigeria** – Prime Minister Narendra Modi arrived in Nigeria on a three-day visit, marking the first trip by an Indian Prime Minister to the West African nation in 17 years. While bilateral trade, currently valued at approximately $7.8 billion (down from $12 billion in 2021-22), represents a fraction of India’s global commerce, Nigeria holds significant strategic importance.
The visit aims to revitalize trade relations and open doors for Indian companies in sectors such as mining and defense. India is Nigeria’s largest trading partner in Africa, and the government hopes Modi’s visit will significantly boost trade volume. While trade has declined recently, Indian companies have steadily increased investment in Nigeria over the past few years, with approximately 135 companies investing over $27 billion across infrastructure, manufacturing, and services. India imports refined petroleum, medicine, and machinery from Nigeria, while exporting goods including motorcycles and transport equipment.
The Prime Minister’s visit comes amidst a backdrop of declining trade between the two nations. Despite this downturn, the Indian government is optimistic about the potential for growth, viewing Nigeria as a key strategic partner in Africa. The visit is expected to focus on strengthening economic ties and fostering further collaboration.
**(Note: The final paragraph of the original text concerning the BJP’s election slogan is unrelated to the Prime Minister’s visit to Nigeria and has been omitted from this news article.)**
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